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SBIN : at Wave C completion zoneSBIN Analysis (20th Dec 2024) The chart of SBIN (State Bank of India) illustrates an extended retracement to mitigate liquidity, a failed breakout (BO), and a corrective wave completion. Let us dive into a step-by-step educational breakdown of actionable levels. Current Structure: The price has recently formed a corrective wave structure (A-B-C) and is trading near a potential demand zone around 818-834. The first target zone lies between 850-852. Further breakout could lead to an extended target between 900-912. The stop-loss is below 814, where failing the deep retracement may result in bearish continuation. Action Plan: Buying Opportunity: Consider entering near 818-834, as this aligns with the golden retracement zone. This is a low-risk entry given the confluence of previous support and corrective wave completion. Targets: Book partial profits around 850-852. If momentum sustains, trail stop-loss to 845 and aim for 900-912 as the extended target. Stop Loss: Place a stop-loss below 814 to manage risk. A failure here could invalidate the setup, resulting in further downside risk. Risk-Reward Ratio: Buying around 830 with a target of 850 (initial) and 900 (extended) offers a risk-reward ratio of approximately 1:3, making it a favorable trade setup. Key Educational Note: Green trendlines denote bullish movement, while red illustrates potential bearish risks. The yellow trends indicate a sideways range, highlighting consolidation zones. Disclaimer: This is not financial advice. Always consult with a SEBI-registered advisor before trading. Like and share if you find this analysis helpful!
NSE:SBINLong
by LiveTradingBox
1
SBIN Long for Swing PositionOverview: SBIN has been in a downtrend on the 4-hour timeframe but recently bounced from the key support level of 775. The price faced strong resistance at 795, which was a critical level for any upward movement. However, SBIN has now broken through this resistance with solid bullish momentum and has reached 805. This former resistance level is likely to act as a new support if the price comes back for a retest. Trade Plan: Keep a close watch on the 795 support level, especially on a lower timeframe like the 15-minute chart. If the price shows bullish signs around this level, consider buying a small position and holding it for a potential swing trade. The target for this trade would be 900 or higher. On the other hand, if the price fails to hold the 795 support and breaks below, the next area to watch would be 774. If bullish signals appear at 774, it could be a good opportunity to add to the position for another swing trade. However, if the price continues to decline and doesn't hold this level either, it may be wise to wait and look for a better entry at 726 or exit with a stoploss below 775. Conclusion: If the swing high of 805 is broken, open a long position with the trading plan mentioned above. I'll keep you updated on further price action as it develops. Please let me know which stock do you want me to do analysis on. Write down any doubts or thoughts in the comment section and please hit the boost to show support and follow for more update.
NSE:SBINLong
by MrSharelock
SBIN--Head & Shoulders pattern??This stock is bullish in action. A strong fall is noticed from the header section 795 levels and we have a left shoulder at 780 levels. price after clearing the liquidity below neckline price will take u turn until the right shoulder which is strong. So keep an eye on this stock for short once reaches to the right shoulder area. we have a demand zones lies at 650-640 areas. wait for the price to form a right shoulder, to confirmation and breaks the neckline for more confirmation and retest for more confluence to enter short side up to the demand zones.
NSE:SBIN
by IIT-Trader
1
SBIN--Bullish Outlook to Long ??Observations:: SBIN --->> Price is trading in a channel... if we see the difference between the HH is decreasing gradually... which is a sign of reversal in this stock... clearly price created a gapdown as well, indicating a bearish sign.... we are clearly in an uptrend, price tries to go upside from 570-555 range, but that not move too much..only 20-30 points we can expect. Look for buy when price comes back to the below levels, We have a demand zone,@540 levels, and strong movement to the upside is observed at 530 levels, if we enter long in this area we will ride the trend again and only be exited at 630 levels only. Keep a note on this levels, and also track this levels.
NSE:SBIN
by IIT-Trader
SBIN--Drop base drop formation??Observations:: This is a continuation post to my previous post about SBIN:: Consolidation Happens between the demand zone and supply zones. Price restriction is happens between the zones. While breaking the previous demand zone, price leaves a supply zone @586-590 range, if price wants to test this supply zone and falls below or continue to fall down. A Drop -Base-Drop is going to be observed, we have left with drop formation, if price breaks the smaller trendline will observe a fall towards target 1 and target2. keep track this instrument.
NSE:SBIN
by IIT-Trader
3
SBIN--Fake Breakout @590 range.----->> after strong fall from 588-590 range, price again coming back to supply zone with consolidation to upside, if failed to create a new high and falls below 575 range then sell for the target of 565 range. the demand zone @ 575 range acts as support and the demand zone created at 582 becomes resistance, hence price is in consolidation. if price consolidation to downwards price again rise from 565 range. Monthly expiry is between 590 to 565 range. keep track of these levels.
NSE:SBIN
by IIT-Trader